Use the following information to answer the question(s)below:
Ideko's Planned Debt
-If Ideko's loans will have an interest rate of 6.8%,then the interest expense paid in 2008 is closest to:
A)$6800
B)$7310
C)$7820
D)$7990

Question

Use the following information to answer the question(s)below:
Ideko's Planned Debt 
-If Ideko's loans will have an interest rate of 6.8%,then the interest expense paid in 2008 is closest to:
A)$6800 
B)$7310 
C)$7820 
D)$7990

Quizplus · Accepted Answer

A)Interest_t = Interest rate × ending balance_t-1 = .068 × 100,000 = $6800

Use the Following Information to Answer the Question(s)below